Fuel Up Your Portfolio: 8 Dividend Dynamos to Buy Before July
As we head into the second half of 2024, dividend investors have an excellent opportunity to fortify their income streams and potentially profit from some undervalued picks. Our analysis has identified eight compelling stocks across various sectors gearing up for their ex-dividend dates next week.
By purchasing these shares before their ex-dividend cutoff on July 1st, you'll secure your right to the upcoming dividend payment. Miss the date, and those dividends will go to the sellers instead of your pocket. Let's dive into the dividend dynamos that merit strong consideration:
Texas Pacific Land Corporation (TPL) - This unique landowner and resource firm yields 0.64% and comes highly recommended by analysts as a "strong buy." With a dominant footprint in the energy-rich Permian Basin, TPL's income prospects from royalties, easements and commercial leases look robust.
Air Products & Chemicals (APD) - An industry leader in gases and chemicals, APD offers a 2.69% yield. Despite an analysts' "hold" rating, the firm's vital products and recession-resistant markets could make it an appealing defensive holding.
Ingredion (INGR) - Rated a "buy," this $7.5 billion ingredients solutions provider yields 2.72%. With global reach across food, beverage and pharma sectors, Ingredion's specialized starches and sweeteners supply steady demand.
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State Street Corp (STT) - This financial titan pays a hefty 3.78% dividend, though analysts remain neutral with a "hold" rating. As a top investment services provider to funds and institutions, STT could shine as markets recover.
Equity Residential (EQR) - One of the largest apartment REITs at $25.9 billion in market cap, EQR offers a 3.95% yield and draws a "buy" from analysts. Its premium properties in major metros like Boston and California could continue benefiting from resilient rental demand.
Independent Bank Corp (INDB) - Though garnering a "hold" from analysts, this $2 billion Massachusetts lender tempts with a robust 4.77% dividend yield from its community banking operations.
Washington Trust Bancorp (WASH) - With branches across New England, this $452 million bank rewards investors with an eye-popping 8.45% dividend payout, albeit with a "hold" rating reflecting potential risks.
CubeSmart (CUBE) - Rated "hold" but yielding 4.55%, this $10 billion self-storage REIT has over 1,000 properties tailored to residential and business customers nationwide.
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Several of these picks come well-recommended by top analysts at TipRanks, Barchart and Zacks, while others offer enticing yields deserving of income investors' consideration. By acting before July 1st, you can settle into the dividend payment cycles for any that suit your portfolio strategy.
As always, we advise thorough research and consultation with your financial advisor before making any investment decisions. But this basket of dividend dynamos presents some compelling opportunities to bolster your passive income for the quarters ahead.
Stay tuned for more insights, and happy investing!